Tesco will pay $12m (£8m) to settle legal action by US shareholders which claimed that accounting irregularities inflated the supermarket's share price. The lawsuit alleged that Tesco's overstatement of its profits guidance, revealed last year, breached certain US securities laws. (...) The retailer said in September 2014 it had overstated its profit guidance for the first half of the year by £250m after incorrectly booking payments from suppliers. (...) The incident led to an investigation by the Serious Fraud Office and other regulators. [1]